3D printing Market is expected to grow with a CAGR of x.x% during the forecast period of 2018 to 2025.
3D printing, also known as additive manufacturing, is a process of creating 3D solid objects with the help of digital file. This technique, which has become popular in various industries, creates the physical object by depositing materials in layers. The technology requires hardware, software and materials to work all together. It finds immense use in several industries such as automotive, healthcare, aerospace, defense and construction. Diversified use of technology starting from prototyping to highly technical final products has supplemented the 3D printing technology market growth across the world.
The ease of 3D printing technology in developing complex prototypes, components and small-series components has mainly fostered the adoption among several industries. Apart from this the factors such as benefits of 3D printing such as reduced wastage and minimal time required to create massive objects and growing government investment in 3D printing projects have boosted the market growth. With upsurge in industrialization and benefits of 3D printing in national security geopolitics and sensitive aspects of inter-country relations, the major countries across America, Europe and Asia-Pacific are investment heavily in 3D printing technology. The countries such as UK, Germany, South Korea and Japan have invested huge money for implementing 3D printing techniques in various industries.
The limited availability and high cost of materials, limitation over product size created and lack of standard process controls have been restraining the market growth in some extent. 3D printing has disrupted the traditional manufacturing methods and has helped the manufacturing industry to improve production capacity notably. The growing demand from untapped markets along with increase in adoption in education sector for desktop 3D printers in schools and universities are expected to enhance the market opportunities. Falling prices of 3D printers have supported the adoption of this technology in education sector.
3D Printing Market Segmentation
Global 3D printing market is segmented based on components, applications, industry verticals and geography. In components the market covers technology, material and services. Among technologies, the majorly used technologies includes stereolithography, fuse deposition modeling, laser metal deposition, selective laser sintering, direct metal laser sintering, laser metal deposition and laminated object manufacturing among others. Laser metal deposition finding fastest adoption owing to reduction in material costs, tooling costs and lead times. The technology involves repairing, producing parts and cladding. The material such as metals, plastics, and ceramics find significant demand for 3D printing the object. The technology is used for prototyping, tooling and creating functional parts.
Based on industry verticals, the market is segmented into automotive, aerospace and defense, healthcare, architecture and construction, consumer products, industrial, energy, jewelry, printed electronics and education. Among these aerospace and defense, healthcare industrial and consumer products accounted major market share in 2017. The demand from education, printed electronics and jewelry industries is expected to trigger the 3D printing market growth in coming years.
Geographically, the market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). North America owing to early technological adoption is expected to dominate the market during the forecast period. U.S. would be the major driver the market growth in this region.
Major players operating in this market include ExOne, Stratesys Ltd., voxeljet AG, 3D Systems Corporation, Arcam AB, Materialise NV, EnvisionTEC GmbH, Concept Laser GmbH, EOS GmbH, Autodesk, Inc., SLM Solutions GmbH and Koninklijke DSM N.V. The companies are adopting product launch as major development strategies to sustain the market.
3D Printing Market Segmentation
o Fuse Deposition Modeling
o Laser Metal Deposition
o Selective Laser Sintering
o Direct Metal Laser Sintering
o Laminated Object Manufacturing
• Functional parts
By Industry Vertical
• Aerospace and Defense
• Architecture and Construction
• Consumer products
• Printed electronics
• North America
• Rest of the World (RoW)
3D Printing Market Key Players
• ExOne, Stratesys Ltd.
• Voxeljet AG
• 3D Systems Corporation
• Arcam AB
• Materialise NV
• EnvisionTEC GmbH
• Concept Laser GmbH
• EOS GmbH,
• Autodesk, Inc.
• SLM Solutions GmbH
• Koninklijke DSM N.V.